Let's not get too excited people... Big sellers still loom large

The overall Crypto market is moving sideways and this has gotten a lot of people excited about the possibility of trend changing and moving back UP. Of course, that's what we all want to see because somewhere within, we just want the winter of 2017 back. With retail sentiment so heavily Long (reflecting this desire to see prices rise again), plenty of room to run to the downside, and plenty of areas where Bears will be looming large, I can't argue with what the chart is saying. There are still areas in this market where Bears will have a strong foothold and there is *plenty* of room for BTCUSD to fall. Please, do not be fooled.

Personal disclosure: I want to see the Crypto market rise as I am invested too, however, I have to be okay with the possibility of the market continuing its long-term fall. For me, this would be an opportunity to buy more and add to my Crypto holdings since I do believe that the mega long-term direction for the Crypto markets is UP.

See callout bubbles. Simplify your trading. Always measure your risk and be okay with being wrong ; ) Wait patiently and get the price that you want. Use the market. Don't let the market use you.

Comment:

Since last week, price has continued its slow churn upward. Nothing too exciting, but we are getting closer to our area where we expect to see some weak-to-moderate sellers step in.

Let's not forget though, we have some serious BTCUSD sellers lurking above, but price can still run upwards a little bit before we get there...